Yet another gift to Republicans.
The Obama administration on Tuesday, in a letter to congressional leaders, announced its intention to move forward with a massive free trade agreement that would be the largest since the North American Free Trade Agreement.
U.S. Trade Representative Ron Kirk said in a letter that the U.S. plans to begin negotiations to enter into the Trans-Pacific Partnership.
The TPP is currently comprised of Brunei, Chile, New Zealand and Singapore. Vietnam and Australia are in negotiations to enter the free trade zone. In addition, Kirk said that he would eventually like to see Japan, Malaysia, Peru and South Korea enter the fold as well.
“U.S. participation in the TPP agreement is predicated on the shared objective of expanding this initial group to additional countries,” Kirk wrote.
More. Far too much more …
OopsieUPDATE: Candidate Obama —
I voted against CAFTA, never supported NAFTA, and will not support NAFTA-style trade agreements in the future. NAFTA’s shortcomings were evident when signed and we must now amend the agreement to fix them. While NAFTA gave broad rights to investors, it paid only lip service to the rights of labor and the importance of environmental protection.
February 28, 2008 – Such a long time ago.
I wonder if Obama will reform NAFTA before entering into TPP? Or is this another one of those problems that he would prefer to resolve badly while promising to fix it later? That seems to work.